On November 3, news surfaced that Wiz Khalifa’s account on X was hacked to advertise a fraudulent cryptocurrency.
The promotional posts claimed that the rapper had been working with his team to introduce a memecoin called WIZ.
This token was launched on pump.fun, and within just 15 minutes, its market valuation skyrocketed to $3.4 million. However, this number soon dropped to less than $28,000 as early investors dumped their holdings.
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Data from Solscan reveals that the top two wallets purchased over 155 million WIZ tokens at launch for $19,100 and later sold them for a combined profit of $160,000.
Blockchain investigator ZachXBT suggested that the scammer responsible for this breach is the same person who hacked the X account of Andy Ayrey, the creator of Terminal of Truths, on October 29. He warned:
Do not buy the Wiz Khalifa Pump Fun.
The promotional posts have since been deleted. There has been no official statement confirming whether Wiz Khalifa has regained control of his account.
Overall, it’s evident that social media accounts with a large following remain targeted by cybercriminals exploiting the cryptocurrency market.
In other news, a fake “LEGO Coin” token promotion appeared on LEGO’s homepage after a security breach on October 5, directing users to a phishing site.
Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture & digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.
Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.
Gode’s passions include working and communicating with people, and when she’s not researching Web3 news, she spends her time traveling and watching true crime documentaries.
